On December 13, 2024, Riot Platforms, Inc. (the company) announced that it had purchased approximately 5,117 Bitcoin between December 10, 2024, and December 12, 2024, for a total of around $510 million.

The acquisitions were made at an average price of $99,669 USD/BTC, inclusive of transaction fees and expenses.

As of December 12, 2024, the company’s total Bitcoin holdings have increased to 16,728 BTC.

The Bitcoin purchases were funded through a portion of the net proceeds from the issuance of 0.75% convertible senior notes maturing in 2030, as well as existing cash reserves.

What Is Riot Platforms (RIOT)?

Riot’s sision is to become the world’s leading Bitcoin-Focused infrastructure platform Riot is a Bitcoin mining and digital infrastructure company dedicated to a vertically integrated strategy.

The company operates Bitcoin mining data centers located in Texas and Kentucky, along with power switchgear engineering and manufacturing operations based in Denver, Colorado.

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